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Kane Realty Corp, Williams Realty & Building Co. And Lionstone Investments Secure $134M Refinance For Smoky Hollow In Raleigh

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FINANCED
$134,000,000

North Carolina

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Development Site
Financed 10/15/2024
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Property Image
FINANCED

Kane Realty Corp, Williams Realty & Building Co. And Lionstone Investments Secure $134M Refinance For Smoky Hollow In Raleigh

421 North Harrington Street

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Development Site
Financed 10/15/2024
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Development Site
Transaction Type:Loan

The property asset involved in the context is a development site located at 421 North Harrington Street in Raleigh, NC. The site encompasses 283 units and has received a refinance loan amounting to $134,000,000. This asset is designated for mixed-use development, featuring Class A offices and apartments.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $134,000,000
  • Loan Type: Refinance
  • Landlord: Kane Realty Corp, Williams Realty & Building Co. and Lionstone Investments
  • Broker: Travis Anderson, Colby Mueck & Warren Johnson - JLL
  • Market: Raleigh, NC

Key individuals and companies involved in the transaction include Barings, which provided the refinance loan for the Smoky Hollow project. The lenders and brokers participating in the deal are crucial players in the financial and operational aspects of this development project.

Players

Travis Anderson
JLL
Travis Anderson
8 deals$516.7M volume(704) 526-2806
BROKER

Details

FINANCED
IMAGE: 10/15/2024 ADDRESS: 421 North Harrington Street MARKET: Raleigh, NC ASSET TYPE: Development Site ~ UNITS: 283 LANDLORD: Kane Realty Corp, Williams Realty & Building Co. and Lionstone Investments BROKER: Travis Anderson, Colby Mueck & Warren Johnson - JLL LOAN AMOUNT: $134,000,000 LOAN TYPE: Refinance NOTE: Barings provided a $134 million loan to refinance Smoky Hollow, a mixed-use development in Raleigh, N.C., featuring Class A offices and apartments.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$134,000,000.00

Monthly NOI$893,333.33
Monthly Debt Service$846,971.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00